Housing market trend is upward, analyst says

By John Wake

I’m surprised that permits are down only 21 percent. That tells me that Arizona homebuilders are still in La La Land.

Some 3,737 permits were issued in March, up from 3,630 in February but down 21 percent from the year ago period, the latest Phoenix Housing Market Letter from analyst RL Brown shows.” It’s a positive sign that the trend is upward,” Brown said.